• An empirical investigation of the[taliem.ir]

    An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance


    Purpose – The purpose of this article is to investigate empirically the relation between the value creation efficiency and firms’ market valuation and financial performance. Design/methodology/approach – Using data drawn from Taiwanese listed companies and Pulic’s Value Added Intellectual Coefficient (VAICe) as the  efficiency measure of capital employed and intellectual capital, the authors construct regression models to examine the relationship between corporate value creation efficiency and firms’ market-to-book value ratios, and explore the relation between intellectual capital and firms’ current as well as future financial performance. Findings – The results support the hypothesis that firms’ intellectual capital has a positive impact on market value and financial performance, and may be an indicator for future financial performance. In addition, the authors found investors may place different value on the three components of value creation efficiency  (physical capital, human capital, and structural capital). Finally, evidence is presented that R&D expenditure may capture additional information on structural capital and has a positive effect on firm value and  profitability. Originality/value – The results extend the understanding of the role of intellectual capital in creating corporate value and building sustainable advantages for companies in emerging economies, where different technological advancements may bring different implications for valuation of intellectual capital.

  • The unacknowledged parentage of[taliem.ir]

    The unacknowledged parentage of knowledge management


    Purpose – This paper aims to argue that the current malaise and fragmentation within knowledge management are at least partially caused by a lack of awareness of its own historical roots. Design/methodology/approach – A comprehensive literature review shows that very explicit knowledge  management concepts and practices were in circulation 50 years ago and that current knowledge  management literature has very little historical depth. Findings – The current canonical knowledge  management literature almost universally ignores significant antecedents to knowledge management thinking and practice dating back to the 1960s. Practical implications – There are three practical implications: for  knowledge management education to recover its historical antecedents; for KM theorists and practitioners to connect KM theory and practice to historically-related work in economics, sociology and information  management, from which it is currently isolated; through an understanding of its roots to help knowledge management theorists build a meaningful and coherent agenda for the discipline. Originality/value – This is the most extensive exploration to date of the historical origins of knowledge management, with significant implications for recovering a productive agenda for the discipline.